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Bitcion

80 area is a clue to directionMorning guys, So our last udate setup is done - market has completed retracement to 5/8 Fib support area, forming "222' Buy" pattern and now is the moment of truth, because 8K level is a key to further direction. Downside breakout will significantly diminish chances on upside continuation and, in fact, will mean continuation of major downside trend. While, until BTC stands above it, it still could show deeper upside retracement, in a shape of AB-CD pattern. Its target stands around 8.8 area. Thus depending on your view - you could act accordingly. Bulls could drop time frame more and take long position, as current price lets to place very tight stop, just below major 5/8 level, hoping that upward action will happen. While bears should wait either for completion of 8.8K target or - yes, downside breakout of 8K level. So, Stop "Sell" order could be used.
COINBASE:BTCUSD
by Sive-Morten
4
9K could be re-testedMorning guys, We keep our bearish view in longer-term perspective, watching for two destination points - 7.2K first and potentially 6.4K second. But in short-term context, BTC could show upside pullback. Last week we call to not take shorts by far and wait for pullback as market was oversold on daily chart. Now you can see that indeed, it stands flat. We ignore pullback and do not intend to go long, but it should provide us better chances for short entry. Potentially in could re-test major broken 9K level, but only if everything will go positive. Here, on 1H chart we see something that looks like double bottom pattern, but for BTC, to keep bullish chances, price has to hold above major support levels. Now it stands at 3/8 level. Only in this case upside AB=CD will be possible. Conversely, breaking of 5/8 will mean that we're going down on daily chart and pause is over. Thus, our plan - sit on the hands and wait, whether we will get upside AB=CD to 9K where we could consider short entry.
COINBASE:BTCUSD
by Sive-Morten
Road to 7200-7500 is openedMorning everybody, Well, it is not needed to talk too much. Few days ago we already noticed our doubts on price behavior and that it doesn't correspond to normal price action of bullish market. As we've pormised the breakout of right arm lows of our H&S pattern triggered chain reaction of breakouts, including last major support of 9K area. As a first result of collapse, market hits daily Oversold and completes 1.27 butterfly extension. This is not good moment to go short right now - wait for pullback to get bearish continuation patterns, such as "222" Sell and take short position. Next target is 7200-7500 area - our major bearish scenario. This area includes weekly 5/8 Fib support, AB=CD target and 1.618 butterfly extension. This is major retracement down guys and by its end we should get sweet entry point for major long-term trend. This collapse is not something outstanding - it is normal. We talked about it two months ago. The question only was whether it happens right now or after market will hit 15.3K target. Now we have the clarity...
COINBASE:BTCUSD
by Sive-Morten
Hit or Miss #2Morning guys, Actually, we already have done all preparations for possible BTC action, but traditionally we prepare BTC update on Mondays ;) As you can see, you second chance to take long position has worked nice. H&S on hourly chart stands valid. Now if you stand long based either on our 4H H&S pattern or 1H H&S pattern - move stops to breakeven. The price of failure here is extremely high. Collapse of minor H&S pattern here will lead to cosequenses of failings that drop BTC to 7.5K area. I'll show you why. Imagine that this H&S will fail - market will drop below the right arm. Any H&S failure leads to drop below the head. The head of this pattern in fact is a right arm of large H&S on 4H. Drop below the right arm of 4H will lead to drop below the head as well around 9K area. This area has been tested three times and this time will be the last one. Breakout of 9K area will destroy bullish setup and lead market to next support area of 7.5K. This is a kind of nested doll. Thus, if we will see irrational price action, failure of 1H H&S - close longs and consider position reversal...
COINBASE:BTCUSD
by Sive-Morten
long signal for BTC but waitthere are so many reversal point on BTCUSDT 10977 10972 10950 10926 and we have cross on tenkensen and kijunsen btc has to attack this points with sharps but BTC already is above 10722 which mean its going up till touch 11436 we have the global economy faces its biggest crisis in 11 years but a rocky road lies ahead for bitcoiners and noconiers and remember trump's currency war with china could be bitcion's die or do moment and gold will smash 16k pretty soon fortunately btc move with xau :) enjoy buy pretty soon
Long
by shotojoo
USDCAD Technical Analysis: 6 Hour Timeframe Chart PatternsConclusion for today’s USDCAD technical analysis: Price closing below ~1.31783 implies further downside in the USDCAD. USDCAD chart is presented in today’s analysis on the 6 hour timeframe. Focus is mainly paid to chart patterns in the USDCAD that can be used as a guide in understanding future price development. The bullish channel in the USDCAD that lasted over 15 months is shown on the chart with eventual breakout below the channel occurring on June 07, 2019. A retracement to the 200 moving average (MA) following breakout can be observed before resumption of the downtrend. A bearish channel (tentative) is the most recent chart pattern that is used to provide perspective for price action. The width of the channel can be used for projection to determine the minimum price level that will be targeted upon successful break out (up or down. Support level between 1.32138 and 1.31783 is also indicated on the USDCAD chart. Price breaking through the lower boundary (1.31783) increases the chance of a test of the channel’s lower boundary. Consolidation at support on the other hand supports the notion of price targeting the upper boundary of the channel.
by Coin_Analyst
2
Beyond 9000$...Morning guys, So, yesterday setup is done perfect, market stands in few bucks from 9000$ major daily AB=CD target. But today we want to talk on medium-term perspective... what's next and what we see from recent price action. If we pay some attention to details then we could recognize strong bearish efforts. Indeed, as yesterday as two days ago - sell-off was so strong that BTC has paid no attention to Oversold condition (blue line is DiNapoli Oscillator Predictor, showing OS area). Combination of strong K-support area (despite it has been tested once earlier) and Oversold was not able to hold price and BTC has pressed it down anyway. The same story repeats yesterday. Depsite oversold BTC was tendning lower, showing tail close candles and coming to major target. Once AB=CD will be completed, we expect some retracement as usual. But when BTC calms down a bit and leave Oversold, we suspect that next 1.618 AB-CD extension appears on horizon. It is too strong downside pressure right above the major target. Very often it leads to downside continuation later. Besides, this continuaiton to major 5/8 Support around 7K area totally corresponds to our long-term view of major retracement. Thus, as soon as technical response on 9K target will be over, we keep door open for another leg down.
COINBASE:BTCUSD
by Sive-Morten
1
Upside chances increasesMorning folks, Last week we talked on two possible ways of major retracement - either in the shape of wide AB=CD pattern or extended H&S pattern. And we said - keep an eye on price action inside triangle. If BTC will not break it down, or stops downside action by some reason - be careful. It could be early signal of possible upside continuation. This has happened. Although it doesn't totally cancel AB=CD pattern down, making it a bit wider, but it definitely tells that BTC has no intention to go down right now. Here you could recognize some shape of reverse H&S pattern. It means that some upside leg should be formed, at least AB=CD, forming "222" Sell on daily. Ultimately BTC could continue upside action right to our major weekly target of 15.3K, forming butterfly "Sell" on daily chart. Currently we see that situation is not attractive for taking short position.
COINBASE:BTCUSD
by Sive-Morten
1
Bitcoin & Litecoin Key Dates + Fib Levels + Wild SpeculationChart includes real stuff + my dumb drawings. The Fib levels are what's important, but imagine an EW pattern or something, you get it. Don't think I believe the action will follow the path of my dumb drawings. This is a "what if" we get a similar ratio both in time and price to the previous two Bitcoin halvings. This includes the future ones too. So, if Bitcion extends to the 17.992 fib level again... 350K is the target based on the fib extension tool project if we bottomed, but even if we go to 1.K we are looking at that general area, it doesn't change much. Comparing price action, bitcoin looks different, in proceeding action, but both times price went up considerably post halving. I added the Litecoin comparison with dates of start + halvings including the 2019 one coming up. And my neat little drawing if it looks similar to the first one. Bitcoin did! Adding LTC helped with speculating too :) Biggest takeaway: If "BITCONE" goes to $350K by 2022, the world richest list will get some new peeps jumping in the mix. Even 30K BTC is $10.5 Billion... But then we will probably drop back to $30K or whatever, then speculate on some crazy number come the 2024 Halving. I think then, people will be trading individual Satoshi... but probably not. Price action will be wild though.
BNC:BLX
by measax
2
Momentum upside swing is still possible to 9040-9400 areaMorning guys, Just brief update on current situation. Last time we said, that BTC should turn to major retracement somewhere from 9040-9400 area - and we still keep this view. So it is not time yet to go short. Currently, price action reminds bullish flag and shows definite features of retracement action. Upside action to 1.27 butterfly target was fast, and daily XOP for a few bucks, but still has not been totall completed. This lets us to suggest another upside leg, let's call it as "last one", just due existed strong upside bullish momentum. By this action market should step in our so-called "reversal area". Thus, upside continuation should follow either right from here or, at least from 8040-8050 level. It means, that trade under consideration is "Long", with target inside 9040-9400 (tell the target with more precision later) with stops below 8000 area...
COINBASE:BTCUSDLong
by Sive-Morten
1
BTC steps in target rangeMorning guys, Our upside setup has done well. Daily 9042 XOP target is not completed totally yet, but we could say that mostly it does. Now we have some issues that makes the background for our trading plan. 1. On weekly chart, we've got bullish reversal swing. At the same time, previous bearish momentum is strong and it should trigger moderate retracement sooner rather than later. 2. On daily chart market is overbought and steps in our target range. 3. Now we have completed 1.27 butterfly on 4H chart. But, as upside action to the target was strong, we do not totally deny chances on 1.618 continuation to 9500 area. Taking it all together makes us think that BTC comes to the moment when major retracement should start. Reversal should happen in 9050-9500 area. Since we have a butterfly pattern, chances on H&S appearing looks significant. Now we point as target "floor" 9050$ area and "target ceil" 9500$. It's time to think about profit taking (at least on part of the position) and tight stop on the rest.
COINBASE:BTCUSD
by Sive-Morten